Dhaka stocks keep falling

Dhaka stocks fell on Thursday with more than two thirds of traded issues closing down.

Market observers said the fall portrayed a continuing lack of confidence among investors.

The benchmark index dropped by one percent while the daily turnover also shrank by 16 percent from previous day’s trade.

Market is suffering from serious lack of fund flow and after angry protest by the investors on Monday confidence has hit low, says market experts.

The benchmark DSE General Index (DSE) shaded 70.62 points or 1.27 percent to close at 5502.74604.

Out of 248 issues traded more than 66 percent or 164 lost price and only 77 gained.

Total market transaction also fell by more than Tk. 1.18 billion from previous trading day to close at Tk. 5.94 billion screening fall in market participation.

Grameenphone (GP) came as turnover leader though it incurred a loss of 2.29 percent to close at Tk. 362.40 with Tk. 1018.803 million worth of shares changing hands.

Summit Power followed with turnover of Tk. 558.650 million and lost price by 1.18 percent to close at Tk. 1401.25.

Beximco Pharma gained nominally by 0.05 percent to close at Tk. 181.00 with shares worth Tk. 261.885 million traded.

Beximco also saw slight increase by 0.66 percent with closing price at Tk. 378.80 trading 209.623 million.

Square Pharmaceuticals Ltd. traded Tk. 177.435 million loosing price by 0.85 percent to close at Tk. 3490.50.